Prestige Estates Projects Ltd (BOM:533274)
₹ 1594.9 -18.55 (-1.15%) Market Cap: 686.97 Bil Enterprise Value: 730.18 Bil PE Ratio: 94.37 PB Ratio: 4.15 GF Score: 84/100
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Q3 2024 Prestige Estates Projects Ltd Earnings Call Transcript

Feb 14, 2024 / 10:00AM GMT
Release Date Price: ₹1102.85 (-3.41%)

Key Points

Positve
  • Total sales for the nine months stand at INR16,333 crores, up by 81% compared to the previous year.
  • Collections have increased by 20%, with nine-month collections at INR8,478 crores.
  • Average realization has grown 19% year on year to INR10,143 per square foot.
  • Highest-ever launches during this fiscal year, with over 30 million square feet of area launched.
  • Prestige Estates Projects Ltd (BOM:533274) has completed and delivered over 300 projects, totaling close to 180 million square feet of area.
Negative
  • Quarterly revenue slightly down at INR1,970 crores due to fewer handovers.
  • Concerns about sustaining growth with limited large launches in the upcoming residential pipeline.
  • Delays in project approvals, particularly in NCR and Chennai, affecting launch timelines.
  • Debt levels remain almost the same, with a debt-equity ratio of 0.6.
  • Lower margins in the residential segment, with current margins at 19%, which is below expectations.
Operator

Ladies and gentlemen, good day, and welcome to the Q3 and nine-months FY24 earnings conference call of Prestige Estates Projects Limited hosted by Axis Capital. (Operator Instructions). Please note that this conference is being recorded.

I now hand the conference over to Mr. Ashutosh Mittal from Axis Capital. Thank you, and over to you.

Ashutosh Mittal
Axis Capital Ltd - Moderator

Good afternoon, everyone, and welcome to the call. We have the management from Prestige Estates represented by Mr. Irfan Razack, Chairman and Managing Director; Mr. Venkat Narayana, the CEO; and Amit Mor, CFO.

I'll now hand over the call to the management for the initial comments. Thank you.

Irfan Razack
Prestige Estates Projects Ltd - Executive Chairman of the Board, Managing Director

Venkat?

Venkat Narayana
Prestige Estates Projects Ltd - Chief Executive Officer

Good afternoon to all of you. Welcome to post results interaction of Prestige Estates. To begin with, in terms

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